Record Deal Memo Assignment

Record Contract:
(I represent the artist.)

Terms of Agreement:
Term:
The term of this agreement begins on January 1st 2022, and will continue for a period of
one year, ending on December 31st 2022.1 In which time the artist will deliver one album or 12
equivalent separate masters.2 The record company is granted the right upon the agreement of the
artist to exercise separate additional options to extend the initial term for further periods.3

Exclusivity:
The artist will not record for any other label while he/she is under contract with this
4
label.

Territory:
The Territory of this agreement is defined as, the universe, including the internet.5

Artist and Producer Royalty Rate:

The artists royalty rate will be 13% after the full recoupment of expenses. The producer’s
royalty rate is 3% after fully recouping the advance and is payed to him retrospectively. This
amount will be taken from the artists rate, making an 10% net royalty rate.6 The artists royalty
rate will increase by .05% upon execution of further options. 7

Funds and Advances:

For the first term, a recording fund of $150,000 will be set. The recording fund will be
payable to the artist following the signing of this agreement. Monies left after recording cost and
all expenses will be considered an advance and no recoupable by the record company.

Creative Control:
The artist will maintain the following controls,8
 Consent to the use of masters in commercials and licensing to films, TV, Video games,
and other audiovisual works
 Approval of photographs, biographical materials, and other artwork used in advertising
and promotion
 Approval for sample use of masters

1
All You Need to Know About the Music Business, 2019, page 112
2
All You Need to Know About the Music Business, 2019, page 108
3
All You Need to Know About the Music Business, 2019, page 110
4
The Musician’s Business and Legal Guide, 2008, page 287
5
All You Need to Know About the Music Business, 2019, Page 182
6
All You Need to Know About the Music Business, 2019, page 127
7
All You Need to Know About the Music Business, 2019, page 110
8
All You Need to Know About the Music Business, 2019, page 183 - 184
  Approval of any edits to master
 Approval of sequencing
 Approval of producers

Artists Recording Commitment:

The artist will record and deliver one commercially or technically satisfactory album
consisting of twelve songs or twelve individual equivalent masters. 9 Each song will be an
original composition.

Recording Procedure:
The artist is responsible for the selection of producer(s) prior to each recording session.
The artist and company shall agree on dates and locations of recording and mixing and any other
studio recording and mixing may take place.10

Grant of Rights and Ownership:

All recordings the artist delivers during the term shall be property of the record company.
The company will hold the exclusive right throughout the territory to copyright those recordings
for the period of the term.11
The company and all people authorized by the company will have the right to use the
names (including any professional names), and any likenesses, whether or not current (including
photographs, portraits, caricatures, and stills from any artwork or videos), autographs and
biographical material of or relating to the artist for the purpose of advertising, promotion and
trade and in connection with the marketing and exploitation of recordings created during the
contract period. 12
The record company will have the exclusive right to create and maintain an official
website that has the artist’s professional name, and the URL for the website can be included in
any advertising and marketing materials.13 The record company must consult the artist regarding
the initial design of the website and will give due consideration to any reasonable request made
by the artist.

Merchandising:
All active merchandising rights will remain the exclusive right of the artist. The artist will
grant the record company first negotiation rights as well as matching rights in the event a deal
cannot be agreed upon.14 The artist will also maintain the exclusive right to all app rights and
digital merchandising.15

9
All You Need to Know About the Music Business, 2019, page 108
10
The Musician’s Business and Legal Guide, 2008, page 289
11
The Musician’s Business and Legal Guide, 2008, page 294
12
The Musician’s Business and Legal Guide, 2008, page 294
13
The Musician’s Business and Legal Guide, 2008, page 294-295
14
All You Need to Know About the Music Business, 2019, page 177
15
All You Need to Know About the Music Business, 2019, page 178